Globant (NYSE:GLOB) Announces Earnings Results, Misses Estimates By $0.02 EPS

Globant (NYSE:GLOB) announced its quarterly earnings data on Thursday. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.02), Briefing.com reports. Globant had a net margin of 4.01% and a return on equity of 10.55%. The firm had revenue of $617.14 million for the quarter, compared to analyst estimates of $615.32 million. During the same quarter in the previous year, the company earned $1.63 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Globant updated its FY 2025 guidance to 6.120- EPS and its Q4 2025 guidance to 1.530- EPS.

Globant Stock Performance

NYSE:GLOB traded down $1.79 during trading hours on Friday, hitting $61.05. 2,663,560 shares of the company traded hands, compared to its average volume of 1,365,791. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant has a twelve month low of $54.36 and a twelve month high of $235.08. The firm has a 50-day moving average of $59.16 and a 200 day moving average of $80.45. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 5.98 and a beta of 1.20.

Institutional Trading of Globant

A number of hedge funds have recently modified their holdings of the company. State of Wyoming lifted its holdings in shares of Globant by 78.9% during the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider’s stock worth $80,000 after acquiring an additional 389 shares during the period. Osaic Holdings Inc. lifted its holdings in Globant by 61.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,163 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 443 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Globant in the third quarter valued at approximately $237,000. Intech Investment Management LLC bought a new stake in Globant during the 3rd quarter worth approximately $250,000. Finally, Tidal Investments LLC acquired a new stake in Globant during the 2nd quarter valued at $252,000. Institutional investors own 91.60% of the company’s stock.

Globant announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

GLOB has been the topic of a number of recent research reports. Needham & Company LLC cut their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their price target on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday. Scotiabank upgraded shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price target on the stock in a report on Monday, July 21st. The Goldman Sachs Group decreased their price objective on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Finally, Citigroup raised shares of Globant to a “hold” rating in a research note on Thursday, October 23rd. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $111.93.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.